16 September 2016
Sydney, 15 September 2016: The Australian Bankers’ Association has welcomed the Australian Securities and Investments Commission’s guidance on customer remediation programs released today.
“We are pleased that ASIC has confirmed in its guidance that remediation programs can apply to all financial advice and products,” ABA Executive Director – Retail Policy Diane Tate said.
“It is important that customers who are impacted by inappropriate advice are treated in a consistent way, irrespective of the type of advice received or the financial product.
“For example, remediation programs can apply in relation to basic banking products, not just with financial advisers giving advice on complex products,” Ms Tate said.
ENDS
Contact: Stephanie Arena 0477 470 677
@austbankers
bankers.asn.au
Latest news
Australians have now used Confirmation of Payee over 100 million times since the service was launched in July 2025, marking a major milestone in the banking industry’s efforts to protect consumers and businesses from scams and mistaken payments. Part of the banking sector’s Scam-Safe Accord, Confirmation of Payee adds another layer of protection by allowing… Read more »
Banks are urging Australians to side-step fake or dodgy tickets this footy season, as scammers set their sights on fans across all football codes. More than $36 million was lost to buying and selling scams last year, including fake ticket sales, with criminals looking to cash in on the excitement and passion of footy fans…. Read more »
E&OEPodcast InterviewThe Savings Tip Jar18 February 2026. Topics: Mortgage refinancing, savings accounts. Dominic Beattie (Host): Welcome to this week’s Dollar Dialog, and today we’re talking refinancing, with new data dropping from the ABS last week, showing that a record 640,000 Australian mortgages were refinanced through 2025, which is up 20% on the previous year. So,… Read more »